Zcash (ZEC) Retreats From $505 Peak: What’s Next After the Pullback?
The post Zcash (ZEC) Retreats From $505 Peak: What’s Next After the Pullback? appeared on BitcoinEthereumNews.com. Key Takeaways ZEC reached $505 before retreating to approximately $466 as traders took profits near the psychological $500 level The forthcoming Ironwood network upgrade, scheduled for late July, addresses counterfeiting vulnerabilities within Zcash’s shielded pools Zcash has now mined 80% of its maximum 21 million coin supply, intensifying conversations about token scarcity Technical analyst Ardi suggests breaking above $480 composite resistance could propel ZEC toward $500–$540 territory Contrarian analyst Aladdin_LCA identifies potential bearish patterns including head-and-shoulders formation, cautioning against aggressive long exposure Zcash (ZEC) has experienced a notable correction from its recent peak of approximately $505, settling around the $466 level as market participants secured gains near the significant $500 threshold. This retracement follows an impressive